Gensource Announces Increase in Potash Asset Base

SASKATOON, Saskatchewan & LONDON — Gensource Potash Corporation (“Gensource” or the “Company”) (TSXV: GSP, AIM: GSP) is pleased to announce the acquisition of an additional potash permit area, Block 59, through the recent Government of Saskatchewan public offering of subsurface Mineral Crown Dispositions S010. Block 59 abuts existing Gensource leases, is approximately 7,244 hectares and represents a direct addition to mineral leases KL244 and KL245 in Gensource’s Vanguard Area. Block 59 is located immediately north of KL245 in the Rural Municipality of Huron No.223, which is the location of Gensource’s Tugaske potash project (the “Tugaske Project”), the Company’s first modular potash production project. The total price paid to the Government of Saskatchewan for Block 59 was $103,305, or $14.26 per hectare of Crown mineral rights and will be satisfied from existing cash resources. Management believes that this is a cost-effective addition to Gensource’s potash asset base. Pursuant to Schedule Four of the AIM Rules for Companies, it is noted that there are no profits attributable to Block 59. Read More